Oil News Roundup

The Wall Street Journal Online

Updated Oct. 20, 2006 4:43 p.m. ET

Crude-oil futures tumbled nearly $2 a barrel, settling at less than $57 a barrel on the New York Mercantile Exchange, despite OPEC's bigger-than-expected promise of a production cut, raising doubts about the cartel's ability to influence prices. Here is Friday's roundup of oil and energy news:

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PUSHING PUTIN: European Union leaders said they would push Russian President Vladimir Putin to commit to a new, legally binding energy partnership that would ensure supplies of oil and gas for Europe. After a one-day summit to...